12 December 2009
BAGHDAD: The Russian Lukoil and its Norwegian partner Statoil won the oil contract to develop the west Qurna giant oilfield.

Iraqi Oil Minister Husein al-Shahrestani announced the deal in Baghdad on Saturday, stating that the contracted value is $1.15 per barrel with a capacity of 1.8 million barrels per day (bpd).

Earlier, the Russian firm, Gazprom, won the contract to develop the Badra field with a value of $5.50 per barrel.

The contracts come as part of round-2 of oil permissions launched by the Oil Ministry on Saturday, comprising five oil and gas fields throughout Iraq save the semi-autonomous Iraqi Kurdistan region.

© Aswat Aliraq 2009